Bryn Mawr Capital Management LLC Sells 442 Shares of U.S. Bancorp (NYSE:USB)

Posted by Lisa Pomrenke on May 26th, 2023

U.S. Bancorp logo Bryn Mawr Capital Management LLC trimmed its stake in U.S. Bancorp (NYSE:USB – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,231 shares of the financial services provider’s stock after selling 442 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in U.S. Bancorp were worth $1,667,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Retirement Financial Solutions LLC bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $25,000. Mach 1 Financial Group LLC bought a new position in U.S. Bancorp in the third quarter valued at approximately $26,000. Hollencrest Capital Management bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $26,000. EWG Elevate Inc. bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of U.S. Bancorp by 334.0% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 868 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 668 shares during the period. 71.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Alan B. Colberg acquired 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, April 21st. The shares were acquired at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the transaction, the director now directly owns 10,050 shares of the company’s stock, valued at approximately $343,107. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider James B. Kelligrew acquired 16,260 shares of U.S. Bancorp stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average price of $30.59 per share, for a total transaction of $497,393.40. Following the transaction, the insider now directly owns 151,927 shares of the company’s stock, valued at approximately $4,647,446.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan B. Colberg acquired 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, April 21st. The shares were purchased at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the transaction, the director now directly owns 10,050 shares in the company, valued at $343,107. The disclosure for this purchase can be found here. Insiders have bought 76,698 shares of company stock worth $2,446,082 in the last 90 days. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on U.S. Bancorp from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, April 3rd. UBS Group downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, April 10th. JPMorgan Chase & Co. reduced their target price on U.S. Bancorp from $52.50 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 10th. Morgan Stanley reduced their target price on U.S. Bancorp from $46.00 to $43.00 and set an “equal weight” rating for the company in a research note on Thursday, April 20th. Finally, Barclays reduced their target price on U.S. Bancorp from $68.00 to $52.00 in a research note on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.35.

U.S. Bancorp Price Performance

NYSE USB traded up $0.15 during midday trading on Friday, hitting $30.66. The company had a trading volume of 1,432,399 shares, compared to its average volume of 14,791,252. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $53.37. The company has a market capitalization of $47.00 billion, a PE ratio of 8.11, a P/E/G ratio of 1.03 and a beta of 0.93. The firm has a 50-day moving average price of $33.06 and a 200-day moving average price of $41.05.

U.S. Bancorp (NYSE:USB – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). U.S. Bancorp had a return on equity of 16.70% and a net margin of 19.21%. The business had revenue of $7.18 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period last year, the firm posted $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, analysts anticipate that U.S. Bancorp will post 4.59 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $1.92 dividend on an annualized basis and a yield of 6.26%. U.S. Bancorp’s dividend payout ratio is currently 51.06%.

About U.S. Bancorp

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.